Tesla Stock Update – Could Prices Crash Below $100 in 2021?

Recently, famed investor Michael Burry (The Big Short) described how he believes Tesla could drop 90% and settle below $100 in 2021. I could not agree more, and his outlook dovetails nicely with my $75.00 target. The big question in my opinion is when will the bubble burst, not if?

TESLA DAILY CHART

Currently, the trend is rolling over, and dropping below the January $780 low could trigger an accelerated selloff. A lot of novice investors (Robinhooder’s) have considerable profits in this name. When profits begin to collapse, weak hands will rush to the exits, especially if the breakdown is coupled with an adverse news event.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For more information, please visit here.